Cognitive Verbs
Alex and Anne met with Tina Gillan on Tuesday to go through the insurance proposals she had got for us.
Her recommendation is to go with NZI - they are reputable, and for $15,000 less p.a. offer the same cover as Vero.
Even so, annual insurance for the Body Corp (covering all the buildings) is $58,582 rather than the $22,000 we had been working on - the difference is largely because of the EPS construction (our SIPs panels). Neither NZI nor Vero would move on the cost because of the EPS construction.
Tina is still wanting to negotiate further with NZI to reduce conditions around EPS which are based on an industrial setting rather than a domestic one.
Currently the excess is set at $2500. We could discuss increasing the excess, but it is not going to make a huge difference to the premiums. She will try to negotiate a lower excess for glass and whiteware, which is reasonably standard in a domestic policy.
We would recommend going with NZI, but can leave the formal decision for another week, since Tina wants to talk more with NZI before she finalises the proposal.